Cassa Depositi e Prestiti

Cassa Depositi e Prestiti SpA (CDP) is a prominent Italian investment bank founded on November 20, 1850 in Turin. Its main duty was to finance public works like roads and waterworks during the reign of Victor Emmanuel II of Italy, King of Sardinia-Piedmont.[3]

Cassa Depositi e Prestiti
TypeSocietà per Azioni
IndustryBanking
Founded1850 in Turin
FounderItalian government
Headquarters,
Italy
Area served
Italy
Key people
Dario Scannapieco (CEO), Giovanni Gorno Tempini (Chairman)
Increase €3.572 billion (2020) [1]
Decrease €2.775 billion (2020) [2]
Total assetsIncrease €512.408 billion (2020) [2]
Total equityDecrease €33.7 billion (2020) [2]
Number of employees
Over 40,000 (2020) [1]
Subsidiaries
Websitewww.cdp.it

HistoryEdit

CDP is the major Italian institution for economic development through long-term investments at local, regional and national level and acts as the government's arm for executing public policy mandates.[4]

It is among the founders (with Caisse des Dépots, KfW and European Investment Bank) of the Long-Term Investors Club,[5] a group that gathers 18 major financial institutions and institutional investors from all over the world mainly from G20 countries.

After the unification of Italy, in 1863 it was restructured and the headquarters moved to Rome; it was constituted in its current form as a joint-stock company on 12 December 2003. 83% of the share capital is owned by the Italian Ministry of Economy and Finance, the 16% is held by various banking foundations, while the remaining 1% in treasury shares.[6] CDP is today the third largest Italian bank according to the value of the total assets owned by the group (around 425 billion euros in 2018).

AssetsEdit

CDP is today the third largest Italian bank according to the value of the total assets owned by the group (around 510 billion euros in 2020), after the banks UniCredit and Intesa Sanpaolo. Cassa Depositi e Prestiti manages the entire Italian Postal savings that represent its first source of financial resources. These resources are used by the bank to lend money to the Italian State or local governments, acquire strategic equities and invest in financial, infrastructural and economical projects considered strategic for the development of the Italian economy.[citation needed]

In 2009, Caisse des Dépots, Cassa Depositi e Prestiti, KfW and European Investment Bank founded the Long-Term Investors Club.[5]

HeadquartersEdit

Corporate headquarters is in Rome, Via Goito, 4 - 00185.[7]

Board of DirectorsEdit

As of August 2021[8]
  • President: Giovanni Gorno Tempini
  • Chief Executive Officer: Dario Scannapieco
  • Councillors: Livia Amidani Aliberti, Anna Girello Garbi, Fabrizia Lapecorella, Fabiana Massa Felsani, Matteo Melley, Alessandra Ruzzu, Giorgio Toschi.

ReferencesEdit

  1. ^ a b https://www.cdp.it/resources/cms/documents/CDP-Annual-Report-2020_ENG.pdf[bare URL PDF]
  2. ^ a b c "Investitori | CDP". www.cdp.it.
  3. ^ Jucca, Lisa (November 20, 2020). "Breakingviews - Italian sovereign fund is a force to reckon with". Archived from the original on May 29, 2021.
  4. ^ "Moody's announces completion of a periodic review of ratings of Cassa Depositi e Prestiti S.p.A." Moodys.com. 2019-06-24. Retrieved 2020-01-07.
  5. ^ a b Long-Term Investors Club. "Message".
  6. ^ "History of CDP". CDP. Archived from the original on 4 April 2014. Retrieved 16 January 2014.
  7. ^ "CDP | Cassa Depositi e Prestiti". www.cdp.it.
  8. ^ "CDP Governance". www.cdp.it.

External linksEdit